Financial News

Logistics SaaS startup FarEye raises $100 million in fresh funding

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In August last year, the company had raised $13 million as an extension to its series D round.In August final 12 months, the corporate had raised $13 million as an extension to its sequence D spherical.

Logistics software-as-a-service (SaaS) start-up FarEye has raised $100 million in funding led by new buyers TCV and Dragoneer Funding Group.

The funding, a part of the corporate’s Sequence E monetary spherical, additionally noticed participation from present backers Eight Highway Ventures, Fundamentum and Honeywell.

Associated Information

As a part of the transaction, Gopi Vaddi, common associate at TCV will be part of FarEye’s board of administrators. Based in 2013 by Kushal Nahata, Gaurav Srivastava and Gautam Kumar, FarEye is a logistics and provide chain administration platform that helps companies throughout sectors starting from grocery to third-party logistics suppliers to fulfil deliveries at diminished value and supply a greater client expertise.

The Noida-based firm caters to enterprises throughout greater than 30 international locations and counts Walmart, Amway and Domino’s amongst its shoppers.

The corporate stated that manufacturers use its companies to launch a number of supply fashions like same-day, next-day, on-demand, and acurbside from a number of stock places. The agency claims to course of over 100 million transactions every month.

The contemporary capital will likely be used to allow manufacturers to offer Amazon Prime-like supply experiences. Apart from, a part of the funds will likely be deployed to construct on its software program platform capabilities, drive European and North American enlargement and rent new abilities, the corporate stated in a press release.

In August final 12 months, the corporate had raised $13 million as an extension to its sequence D spherical.

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